LSV Asset Management Reduces Stake in Washington Federal Inc. (WAFD)
LSV Asset Management lowered its position in shares of Washington Federal Inc. (NASDAQ:WAFD) by 26.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 425,300 shares of the bank’s stock after selling 154,100 shares during the quarter. LSV Asset Management’s holdings in Washington Federal were worth $14,566,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its position in shares of Washington Federal by 1.1% in the second quarter. Public Employees Retirement System of Ohio now owns 5,522 shares of the bank’s stock worth $183,000 after purchasing an additional 62 shares during the period. Acadian Asset Management LLC bought a new position in shares of Washington Federal in the fourth quarter worth $199,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Washington Federal by 42.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,877 shares of the bank’s stock worth $201,000 after purchasing an additional 1,760 shares during the period. Adviser Investments LLC bought a new position in shares of Washington Federal in the third quarter worth $222,000. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Washington Federal by 1.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,641 shares of the bank’s stock worth $220,000 after purchasing an additional 127 shares during the period. 83.58% of the stock is owned by institutional investors.
Washington Federal Inc. (NASDAQ:WAFD) opened at $35.25 on Friday. Washington Federal Inc. has a 12-month low of $29.80 and a 12-month high of $37.70. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $3,043.47, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.45 and a beta of 1.14.
Washington Federal declared that its board has initiated a share buyback plan on Wednesday, January 24th that allows the company to repurchase 5,000,000 outstanding shares. This repurchase authorization allows the bank to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Thursday, February 8th. This is a boost from Washington Federal’s previous quarterly dividend of $0.15. Washington Federal’s payout ratio is currently 28.99%.
A number of research analysts recently commented on WAFD shares. Zacks Investment Research upgraded Washington Federal from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Monday, October 23rd. ValuEngine upgraded Washington Federal from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Royal Bank of Canada restated a “hold” rating and issued a $36.00 price target on shares of Washington Federal in a research report on Friday, October 20th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $38.00 price target on shares of Washington Federal in a research report on Thursday, January 18th. Finally, DA Davidson restated a “hold” rating and issued a $39.00 price target on shares of Washington Federal in a research report on Thursday, January 18th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $37.40.
About Washington Federal
Washington Federal, Inc is a bank holding company. The Company conducts its operations through a federally insured national bank subsidiary, Washington Federal, National Association (the Bank). The business of the Bank consists primarily of accepting deposits from the general public and investing these funds in loans of various types, including first lien mortgages on single-family dwellings, construction loans, land acquisition and development loans, loans on multi-family, commercial real estate and other income producing properties, home equity loans and business loans.
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